Saturday 12 noon training

 WFG- Miliari group

Nick Fitzgerald

I love what we do for families.

For their legacy, something unexpected happen in their family they don't end up homeless. I had a gentleman went to sell me something at 18, $200 a month in. At the time, I could barely put gas in my car. I didn't listen to him, he didn't explain it very well. 

I might have tried to contribute something. Dive right into this. What make our company unique compared to the products? 1. we are non captive (they sell state insurance. I used to run 3 allstate license. only allowed to sell all state stuff. I wasn't necessarily doing what is best for the client, just doing what I could sell). we have contracts with 200 different insurance companies. Insurance companies, they like to change their products. Because we have access to so many carriers and contracts, we can make sure they are getting the best possible thing at the time. 

2) full service insurance firm. you want to be known as the money person. we can do anything. new, getting licensed at life and health. ohter people have securities licenses. i am in the process of doing that myself right now. we have no agenda. everything taht someone might come to that is money related, we can do that. you may not have a license to do it yet, but they can do it when it comes to financial vehicle. people look at you as teh money person, not the insurance person.

3) We don't charge to sit down with people. you have to do it in order to sit down with a financial person. they are going to pass those financial tools on to their kids. its not that our parents didn't love us, this is the best that they knew at the time. 

4 Steps to securing a strong financial foundation.

a. proper protection is at the bottom. we do that through life insurance. if you pass, all of that is going to pass on to your family. if your the breadwinner. if you have 1c00s of debt, that gets passed on to your family. your income is no longer there to take care of the bills. You don't want to leave your family in that. in potential to lose their house, to not be able to afford anything. 

term policy on healthy person, less than 50. $20 bucks a month if you are in your thirties. 

b) debt elimination- its so easy to get a credit card, easy to use it, they entice us with the points and bonuses. its their way for getting us to use their cards. 20 plus in credit card interest, there is no secure investment out there that will not perform that. come up with a plan to get out of those. sit down, get a budget. how do we get there, and how do we get out of it? crazy credit card debt. when you start to pay them off. then every month, it goes to credit cards, it sucks. it sucks. interest is like lighting money on fire, and giving it away.

c. short term savings,  we want people to start thinking about that. work up to 6 months, 12 months. 

d. long term savings- grow money and its tax exempt. access to money without having to pay taxes on it. how do we want to live in 30 to 40 years. most people only have one place that they really save money, if job has a retirement program.

no idea how it works. 

Foundations of proper protection

how an insurance can help you with. 

1. living benefits. what if you get really sick or get paralyzed, what happens when those things happen? 

2. supplement retirement income- there are rules that have allowed us to pile cash inside contracts. 

3. supplement retirement income, tax advantage. 

Cover education expenses for your children

Replace income for your dependents

Pay final expenses

Create an inheritance for your heirs

Pay federal and state taxes

Create a source of savings

Provide funds for charitable contributions

Nick: people buy term to cover mortgage, college education, inexpensive for a lot of coverage. you pass after the term is over. there is no more insurance. permanent is insurance that is going to stay there. the insurance company is going to pay out. ability to contribute to the policy and overfund the policy. 

Investment with training wheels. level term policy. 

Primerica- 2 years to get to six figures.

This company- 6 months to 6 figures. They have done it, they have the success stories. 

I keep thinking about real estate and me owning apartment buildings when I hear this. I keep thinking about Robert Kiyosaki's focus on cashflow. If i have cashflow and find out how to increase it for the rest of my life, what is the need for life insurance? This is what I need to find the gap, big dreams but where am I today and how can I get to where I need to go?

Listen, Auris, listen. 1233p. 

403b is non profit business.401k is for profit. most of them are tax deferred. they are sold as you will be a in lower tax bracket. you have no idea what that tax bracket will be. you are leaving your entire life sanvings on an unknown.

Te benefit of a 401k was if the company matches.  that is free money. type of things I want you to think about. you know what to look for, the questions to ask. they are subject to the market. 

Rbert Kiyosaki- people are not diversified because they stay in one investment lass, paper assets. 

Nick- can you afford to lost 40 percent of your savings? (if stocks dip)

I need a money class. these basic terms are going over my head. Take a finance class and take this ABC training again. 

deadset on ira, its just not the best thing. 

Q: why don'tmost people do this already? Most of them do not know. they find list of high net worth people. I didnt get calls until i made a lot of money. 

Robert said 401k is a savings account.

self direct ira is best according to what I learned before. I talked to Alaka about it when I was about to take a train, in New York downtown my favorite stop in the train. 

Times and places for that. This is why people shut their ears.

My ears shut when he talks number, I do not konw what he is saying. Goes completely over my head. I am listening, but I am not listening because I dont know what he is talking about.

IDEA: sell through stories, 

beware of 529 for kids but has to be used for an accredited school, penalized to put the money out and you get taxed.

Switch over and talk about comparisons now. Term life insurance to 

150k base amount. Hey, this $600 here I am gold. 

Let's review the term to 95 product that most Primerica agents are selling. the annual payment of $855 is guaranteed level until age 55. 800 to $600. the way its worded, they are thinking short term, agent proably e left this out. 

gotta start having these conversations. as i'm learning more and more, i'm like i gotta make sure my dad is taken care of. most of his money is pension money. its not 401k. 

this exact client, if we were to write them into a policy we can lock him at a much lower rate. great, get me a copy of the statement so that I can look over it. so i can look out for you.

how close is term cost to perm with cash value?

100 a month is 1200 a year. 936 dollars divided by 12. cost of insurance is 78 dollars a month. so 100-78 you have 22 going into the cash value site. 

This is going to stay around, terms are going to experience. jumped down, 10 years down. First 10 years of the policy they charge more. 

i have clients that make 30k a year. I have clients that make millions a year. 250k  a year into policy, others that put $30 into policy. 

cash value: What is that?

tax free wealth.

living benefit, tax free death benefit. It says life insurance benefit is tax free. we are protecting our debt. we are paying off the mortage. dont do the gofund me. 

$10 to $20 a month they could have a policy. mission in life is to end that. high assets, help them with their state plan. having a will as well. we are full service. 

cash value- retirement savings

Hgher rate of return.

How do we make money?

2 directs, 4 in the base, 

drove 3 3 30, 3 recruits, 3 policies, in 30 days. 

1600 commission. he writes it because he is going to get that commission. 

senior associate level. 

$40 percent more cash.